Basing Candlesticks Forex MetaTrader indicator — is an automatic indicator that detects and marks basing candles on the chart. A basing candle is a candle with a body length less than 50% of its high-low range. The indicator directly highlights the basing candles using histogram lines (in MT4) or custom candles (in MT5) in the platform’s main chart. Can change The percentage criterion via input parameters. You can also turn on chart alerts for when a new basing candle appears.
Input parameters
- Percentage (main default = 50) — percentage value to compare the ratio of the chart candle’s body to its high-low range.
- TriggerCandle (main default = 1) — candlestick number to check for alerts. “1” is the latest fully formed chart candlestick. “0” is the current candlestick, which hasn’t yet finished forming.
- EnableNativeAlerts (main default = false) — if true, will use the MetaTrader’s native pop-up alerts on the new basing candle appearance.
- EnableSoundAlerts (default = false) — if true, will use sound alerts on the new basing candle appearance.
- EnableEmailAlerts (default = false) — if true, it will send MetaTrader’s email alerts on the new basing candle appearance. Should properly Email configured in MetaTrader via Tools->Options->Email.
- EnablePushAlerts (default = false) — if true, it will send MetaTrader’s push notification alerts to your device upon new basing candle appearance. Notifications should be properly configured in forex MetaTrader via Tools->Options->Notifications.
- AlertEmailSubject (default = “”) — additional text for alert’s email subject.
- AlertText (default = “”) — additional text for alerts.
- SoundFileName (main default = “alert.wav”) — sound file name to play on alert if EnableSoundAlerts is set to true.
Examples
MT4
MT5
Basing chart candles represent the period of indecision and consolidation. They are also crucial in supply and demand analysis techniques of technical analysis.
Basing Candlesticks Forex Indicator Downloads
Basing Candlesticks for MetaTrader 4
Basing Candlesticks for MetaTrader 5
Discussion
Warning! If you do not know how to set up this indicator, please read the MetaTrader Indicators Tutorial.
Do you have any more suggestions regarding this forex indicator? You can always discuss Basing chart Candlesticks with the other traders and MQL programmers on the indicators forums.
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